SCOTTSDALE, ARIZONA - August 25, 2000 - Ableauctions.com^TM, Inc. (AMEX:AAC), announced today that it has acquired Johnston's Surplus Office Systems Ltd.

Surplus Office Systems is a Washington State and British Columbia based company with approximately $2 million in annual revenue. The company re-manufactures modular workstations for offices and produces a re-clothed and re-painted finished product that can stand as new. The product is sold at a fraction of the retail cost of new modular systems. Surplus is also engaged in the business of the manufacturing of custom office furniture.

The purchase price of Surplus Office Systems was $835,000, $322,000 in cash and the balance in stock. Ableauctions.com issued 68,182 shares of the Company's common stock at a deemed price of $7.53 per share.

Abdul Ladha, President and Chief Executive Officer of Ableauctions.com stated, "The strategic objective of this particular acquisition is to develop our San Jose and San Francisco (California) operations. Ableauctions.com is currently able to acquire inventories through distress to uniformly outfit small and medium size companies. The acquisition of Surplus Office Systems now enables Ableauctions.com to handle the demands from larger companies looking to acquire very large quantities of identical modular workstations."

About Ableauctions.com

Ableauctions.com is a high tech business-to-business and consumer auctioneer that conducts its auctions live and simultaneously broadcasts them over the Internet. The Company liquidates a broad range of computers, electronics, office equipment, furniture and industrial equipment that it acquires through bankruptcies, insolvencies and defaults. This release and prior releases are available on the Company's Internet Auction web site located at www.ableauctions.com.